As companies strive to be more innovative, progressive with technology, or position themselves as leaders in their industry, their environment needs to be supportive of their goals. Many organizations find themselves with space dilemmas as their needs change and grow. However, sometimes there’s no need to look outside your current setup to achieve the workspace you want.
The extent to which renovations or repairs need to be done can help you determine whether or not you’re better off moving your business entirely. Consider the following to help decide which route is best for your current setup.
Examine your Space Needs
If filing cabinets are starting to fill every corner of your office space and working conditions seem cramped, then it’s time to take a hard look at your current space needs.
Smart office design can make the most out of your space by providing clever storage solutions and an improved layout. However, there are some cases when even after evaluation and the best spatial strategy your needs simply can’t be met within your current location.
Consider how your company might be growing now, or in the future. Will there be an increase in staff, a new department, or other growth that demands more than your space can meet? In these situations, finding a new location is your best bet.
What are Your Aesthetic Goals
Think about the aesthetics you want to accomplish, and if they’ll be more easily obtained through relocation or renovation. Some things to consider when planning a renovation, or when looking to relocate include:
Does your renovation team understand office design, and do they include a general contractor? Consider how the design will affect the outcome in your pre-planning process.
- Design elements that express company culture and attract talent
- What kind of new technology you want to include in your renovation
- What green energy improvements do you want to implement during the transition?
- Calculate your expenses
A big part of your decision will come down to the most cost effective solution. What is your total cost to renovate if you make every change you want? In some cases, by the time you’re done with your checklist, relocation might be the more affordable option.
To get an idea, you’ll want to calculate the average cost for building out your office space, or get a quote from an office fitout company.
You should also take into account any business lost during a renovation or relocation. With an experienced office design company, renovations can be handled swiftly with minimal downtown. Relocations, however, typically take longer to have things up and running the way they were before the move.
There are also other resources, such as apps like the “Office Renovation Calculator” that helps calculate the total cost of renovation based on budget, location, and space conditions.
Consider the Value of Your Location
Due to the competitiveness of prime office space, it can be hard to obtain. If your current address is in an excellent location, consider what you would be giving up by relocating. This could be anything from foot traffic, convenience for your clients and employees, or nearby amenities.
Also, ask yourself if the brand of your company is associated with your current location. If so, what kind of impact will moving have?
Perhaps your current location was great when you were starting out, but now you’d like to become more centrally located. Moving could also be a great opportunity to put yourself in the middle of your target demographic.
If your area degenerated over the years and is no longer drawing the attention and business it use to, then it could be a better long term decision to relocate.
Will you be Risking Current Clients and Employees?
When choosing to relocate, think carefully about the potential inconvenience to customers or employees. Uprooting where you have established yourself can be risky if clients or customers visit your location frequently.
Many customers make decisions on where to take their business based on location. Details such as is it easy to get to, is there enough parking, is it close to work, home, or other stores and businesses all influence their decisions.
After finding the answer to these questions, you can team up with an experienced office fitout group. At Streamline, we help you clients calculate costs and analyze how their current space is would work best with staff and future business goals.